3 Low-Code Platforms, Digital Engineering and Microsoft Partner Services Stocks With a Strong Future Roadmap: Newgen Software Technologies, Zensar Technologies and Sonata Software
- October 22, 2026
- Posted by: Kunal Singla
- Category: Best Stocks
Newgen Software Technologies, Zensar Technologies and Sonata Software: ROE of 16.4% to 26.7% and FY22 to FY26 revenue CAGR of 7.8% to 19.4%. Prices as of 21 Oct 2026.
Quick Answer
The three enterprise software and services stocks to watch are Newgen Software Technologies, Zensar Technologies and Sonata Software. Their return on equity ranges from 16.4% to 26.7%, and their revenue compound annual growth from FY22 to FY26 ranges from 7.8% to 19.4%. Sonata Software has the highest return on equity at 26.7%, while Newgen Software Technologies has the fastest revenue growth at 19.4% a year. Prices are based on the 21 October 2026 close, and this article is educational, not investment advice.
Enterprise software and services stocks let investors follow companies that help organisations automate work and modernise systems. Newgen Software Technologies, Zensar Technologies and Sonata Software cover low-code platforms, digital engineering and cloud services built around the Microsoft ecosystem.
This list covers three enterprise software and services stocks with complete current figures: Newgen Software Technologies, Zensar Technologies and Sonata Software. Every figure comes from the latest reported financials and the 21 October 2026 market close. Companies without complete current figures were left out.
Click Here – Get Free Investment Predictions
What Are Enterprise Software and Services Stocks?
Enterprise software and services stocks are listed companies that sell software platforms and provide engineering and consulting services to banks, insurers, retailers and governments. Their earnings depend on licence and subscription growth, project wins and client budgets.
Enterprise Software and Services Stocks at a Glance
| Company | CMP (Rs) | Market Cap (Rs Cr) | P/E | Industry P/E | ROE (%) | D/E |
|---|---|---|---|---|---|---|
| Newgen Software Technologies | 479.1 | 6,835 | 21.8 | 17.5 | 18.7 | 0.02 |
| Zensar Technologies | 509.35 | 11,686 | 15.1 | 17.5 | 16.4 | 0.02 |
| Sonata Software | 240.5 | 6,732 | 14.5 | 17.5 | 26.7 | 0.38 |
On valuation, Zensar Technologies and Sonata Software trade at a P/E below the industry P/E, while Newgen Software Technologies trades above it, which reflects the growth the market already expects. Readers comparing enterprise software and services stocks should look at return on equity and debt together, since a high return earned with low debt is easier to sustain.
Why Do Enterprise Software and Services Stocks Have a Strong Roadmap in India?
Enterprise software and services stocks have a strong roadmap in India because organisations of every size are automating processes and moving to cloud platforms, which creates long-running programmes.
- Process automation. Banks and governments keep digitising paperwork and workflows.
- Cloud adoption. Enterprises are moving more applications to cloud platforms.
- Recurring revenue. Subscriptions and support contracts build steady income.
Why Newgen Software Technologies Features Among These Enterprise Software and Services Stocks
Among the enterprise software and services stocks on this list, Newgen Software Technologies, based in Delhi, offers low-code platforms for content management, process automation and customer engagement to banks, insurers and governments.
The company has a return on equity of 18.7%, a debt to equity ratio of 0.02 and a market capitalisation of Rs 6,835 crore. The stock trades at a P/E of 21.8, above the industry P/E of 17.5.
Revenue rose from Rs 809 crore in FY22 to Rs 1,641 crore in FY26, a compound annual growth rate of 19.4%. Net profit grew from Rs 164 crore in FY22 to Rs 301 crore in FY26, which works out to a compound annual growth rate of 16.3%. In the June 2026 quarter, revenue grew 12.3% year on year to Rs 393 crore, while net profit rose 26.3% to Rs 62.8 crore.
Roadmap: Digital transformation at banks and public sector organisations, plus new artificial intelligence features on its platform, widen its addressable market. A growing share of recurring licence and cloud revenue improves predictability.
What to watch: Monitor deal wins in the banking sector and the growth of recurring revenue.
Why Zensar Technologies Features Among These Enterprise Software and Services Stocks
Among the process automation shares on this list, Zensar Technologies, an RPG group company, offers digital engineering, cloud and experience services to clients across financial services, retail and manufacturing.
Revenue rose from Rs 4,382 crore in FY22 to Rs 5,921 crore in FY26, a compound annual growth rate of 7.8%. Net profit grew from Rs 422 crore in FY22 to Rs 775 crore in FY26, which works out to a compound annual growth rate of 16.4%.
In the June 2026 quarter, revenue grew 8.6% year on year to Rs 1,566 crore, while net profit rose 1.0% to Rs 184 crore. The company has a return on equity of 16.4%, a debt to equity ratio of 0.02 and a market capitalisation of Rs 11,686 crore. The stock trades at a P/E of 15.1, below the industry P/E of 17.5.
Roadmap: Strong deal wins in cloud and data work, a focus on fewer, larger clients and the use of artificial intelligence in delivery support its path. Cost discipline has allowed margins to improve over the years.
What to watch: Follow client concentration and growth in large accounts.
Why Sonata Software Features Among These Enterprise Software and Services Stocks
Among the three companies on this list, Sonata Software, based in Bengaluru, is a technology services company with a focus on the Microsoft ecosystem and a platform-led approach it calls modernisation.
In the June 2026 quarter, revenue grew 9.9% year on year to Rs 3,286 crore. Revenue rose from Rs 5,655 crore in FY22 to Rs 10,806 crore in FY26, a compound annual growth rate of 17.6%.
Net profit grew from Rs 376 crore in FY22 to Rs 464 crore in FY26, which works out to a compound annual growth rate of 5.4%. The company has a return on equity of 26.7%, a debt to equity ratio of 0.38 and a market capitalisation of Rs 6,732 crore. The stock trades at a P/E of 14.5, below the industry P/E of 17.5.
Roadmap: Its strategy centres on cloud, data and artificial intelligence projects for retail, travel and manufacturing clients. A strong partner relationship with Microsoft and a pipeline of large deals support its roadmap.
What to watch: Monitor deal wins and trends in the domestic business.
Newgen Software Technologies vs Zensar Technologies vs Sonata Software on Key Financials
The table below sets the three enterprise software and services stocks side by side on revenue, profit and margin, using reported figures.
| Company | FY22 Revenue (Rs Cr) | FY26 Revenue (Rs Cr) | Revenue CAGR (FY22-FY26) | FY26 Net Profit (Rs Cr) | FY26 Net Margin |
|---|---|---|---|---|---|
| Newgen Software Technologies | 809 | 1,641 | 19.4% | 301 | 18.3% |
| Zensar Technologies | 4,382 | 5,921 | 7.8% | 775 | 13.1% |
| Sonata Software | 5,655 | 10,806 | 17.6% | 464 | 4.3% |
Sonata Software posts the highest return on equity in this group at 26.7%. Sonata Software has the largest FY26 revenue at Rs 10,806 crore, and Newgen Software Technologies shows the fastest revenue growth with a 19.4% compound annual rate. A useful habit with enterprise software and services stocks is to check each new quarterly result against the capacity plans the company described earlier.
The June 2026 quarter, the latest reported, gives a fresh read on momentum:
| Company | Q1 FY26 Revenue (Rs Cr) | Q1 FY27 Revenue (Rs Cr) | Year-on-Year Growth |
|---|---|---|---|
| Newgen Software Technologies | 350 | 393 | 12.3% |
| Zensar Technologies | 1,442 | 1,566 | 8.6% |
| Sonata Software | 2,989 | 3,286 | 9.9% |
Key Risks to Check Before Investing in Enterprise Software and Services Stocks
Every theme carries risks that deserve a check before any decision. For these enterprise software and services stocks, the main points are: Long-term process automation shares holders usually track revenue growth, margins and cash flow side by side rather than relying on a single ratio.
- Client budgets. Technology spending can slow when customers delay projects.
- Competition for talent. Skilled engineers are in demand across the sector.
- Valuation levels. Some of these companies trade at high earnings multiples, so growth must continue to justify them.
Treat this list as a starting point for research and not as a recommendation. Read the latest results presentation, check the management commentary on order books or capacity plans, and compare each company with its peers before you decide anything.
Use the Univest Stock Screener to filter enterprise software and services stocks by market capitalisation, P/E, ROE and growth, and build your own shortlist.
Final Thoughts on Enterprise Software and Services Stocks
Enterprise software and services stocks reward investors who follow deal wins, recurring revenue and margins together. Newgen Software Technologies, Zensar Technologies and Sonata Software each serve enterprise clients in different ways. Based on the 21 October 2026 close, Newgen Software Technologies trades at Rs 479.1, Zensar Technologies at Rs 509.35 and Sonata Software at Rs 240.5. Valuation matters as much as growth, so compare each company’s P/E with its industry P/E before adding any of these enterprise software and services stocks to a watchlist.
Download the Univest iOS App or Univest Android App to track enterprise software and services stocks, set price alerts and get research-backed stock ideas.
Disclaimer: Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).
What are enterprise software and services stocks?
Ans. Enterprise software and services stocks are listed companies that sell software platforms and provide engineering and consulting services to banks, insurers, retailers and governments. Their earnings depend on licence and subscription growth, project wins and client budgets. This list looks at three of them, Newgen Software Technologies, Zensar Technologies and Sonata Software, using reported FY22 to FY26 financials and the 21 October 2026 closing prices.
Which enterprise software and services stocks are covered in this list?
Ans. This list covers Newgen Software Technologies, Zensar Technologies and Sonata Software. Based on the 21 October 2026 close, Newgen Software Technologies traded at Rs 479.1, Zensar Technologies at Rs 509.35 and Sonata Software at Rs 240.5. Their return on equity ranges from 16.4% to 26.7%, and their revenue compound annual growth from FY22 to FY26 ranges from 7.8% to 19.4%.
Why do enterprise software and services stocks have a strong future roadmap in India?
Ans. Enterprise software and services stocks have a strong roadmap in India because organisations of every size are automating processes and moving to cloud platforms, which creates long-running programmes. The main drivers are as follows. Process automation. Banks and governments keep digitising paperwork and workflows. Cloud adoption. Enterprises are moving more applications to cloud platforms. Recurring revenue. Subscriptions and support contracts build steady income. Together these factors give the companies on this list a visible path for growth over the coming years.
How has Newgen Software Technologies performed financially?
Ans. Revenue rose from Rs 809 crore in FY22 to Rs 1,641 crore in FY26, a compound annual growth rate of 19.4%. Net profit grew from Rs 164 crore in FY22 to Rs 301 crore in FY26, which works out to a compound annual growth rate of 16.3%. In the June 2026 quarter, revenue grew 12.3% year on year to Rs 393 crore, while net profit rose 26.3% to Rs 62.8 crore. The company has a return on equity of 18.7%, a debt to equity ratio of 0.02 and a market capitalisation of Rs 6,835 crore. The stock trades at a P/E of 21.8, above the industry P/E of 17.5. Looking ahead, digital transformation at banks and public sector organisations, plus new artificial intelligence features on its platform, widen its addressable market. A growing share of recurring licence and cloud revenue improves predictability.
How has Zensar Technologies performed financially?
Ans. Revenue rose from Rs 4,382 crore in FY22 to Rs 5,921 crore in FY26, a compound annual growth rate of 7.8%. Net profit grew from Rs 422 crore in FY22 to Rs 775 crore in FY26, which works out to a compound annual growth rate of 16.4%. In the June 2026 quarter, revenue grew 8.6% year on year to Rs 1,566 crore, while net profit rose 1.0% to Rs 184 crore. The company has a return on equity of 16.4%, a debt to equity ratio of 0.02 and a market capitalisation of Rs 11,686 crore. The stock trades at a P/E of 15.1, below the industry P/E of 17.5. Looking ahead, strong deal wins in cloud and data work, a focus on fewer, larger clients and the use of artificial intelligence in delivery support its path. Cost discipline has allowed margins to improve over the years.
How has Sonata Software performed financially?
Ans. Revenue rose from Rs 5,655 crore in FY22 to Rs 10,806 crore in FY26, a compound annual growth rate of 17.6%. Net profit grew from Rs 376 crore in FY22 to Rs 464 crore in FY26, which works out to a compound annual growth rate of 5.4%. In the June 2026 quarter, revenue grew 9.9% year on year to Rs 3,286 crore. The company has a return on equity of 26.7%, a debt to equity ratio of 0.38 and a market capitalisation of Rs 6,732 crore. The stock trades at a P/E of 14.5, below the industry P/E of 17.5. Looking ahead, its strategy centres on cloud, data and artificial intelligence projects for retail, travel and manufacturing clients. A strong partner relationship with Microsoft and a pipeline of large deals support its roadmap.
What risks should investors check before buying enterprise software and services stocks?
Ans. Investors should check a few risks before buying enterprise software and services stocks. Client budgets. Technology spending can slow when customers delay projects. Competition for talent. Skilled engineers are in demand across the sector. Valuation levels. Some of these companies trade at high earnings multiples, so growth must continue to justify them. Reading the latest results presentation and comparing each company with its peers helps judge how these risks apply to each stock.
Is this list of enterprise software and services stocks investment advice?
Ans. No. This article is educational and uses publicly available data as of the 21 October 2026 close. Please verify figures on NSE and BSE, read company filings and consult a SEBI registered adviser before investing. Univest is SEBI registered research analyst INH000013776.
